THE Securities Commission of Zimbabwe (SECZ) has failed to access funding to establish the Financial Services Institute (FSI) expected to offer professional training in financial matters.
Report by Business Reporter
SECZ chief executive officer Tafadzwa Chinamo on Tuesday said not much progress had been made towards the establishment of the institute.
Chinamo said the FSI would be set up in two stages with the first phase entailing the undertaking of a study on the feasibility of the institute, its operations and the syllabus.
The second process would be on the setting up of the institution.
He added that the issue of funding would be determined by the research on the first stage.
“We are hoping to get funding from multilateral organisations and if that fails we will fund it ourselves.
“Sourcing funds from financiers it’s never easy, the process is frustrating, when you think the money is about to come you end up getting excuses,” said Chinamo.
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He added that currently SECZ required money to fund resources for the first stage.
The institution will spearhead investor education and provide industries with financially skilled, effective and competent workforce.
The target market for the institute includes stockbrokers, securities dealers, dealing firms, secretaries, investment advisers and transfer secretaries.
